UPI transactions up 34% on year in April, down a tad from March

Transactions on the Unified Payments Interface (UPI) rose 34% year-on-year to 17.89 billion in April, reflecting continued momentum in digital payments. The total transaction value also climbed 22% to Rs 23.95 lakh crore, according to data released by the National Payments Corporation of India (NPCI) on Thursday.

However, on a sequential basis, the number of transactions slipped 2.2%, while the transaction value dropped 3.3% compared to March. Industry experts attributed the sequential slowdown to technical glitches.